Guideline Value for Krishnaveniamman Nagar

Krishnaveniamman Nagar guideline value

The current guideline value of Krishnaveniamman Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Krishnaveniamman Nagar has changed

The guideline value for Krishnaveniamman Nagar has seen several revisions over the years. In 2017, the guideline value was Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 brought the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Krishnaveniamman Nagar is below this median.

• Krishnaveniammal Nagar: Rs 2,200 per sq.ft (2024)
• Kuberan Nagar: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 10th Street/Sri Balaji Nagar: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 11th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar 12th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnaveniamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Krishnaveniamman Nagar?

The Sub Registrar Office that covers Krishnaveniamman Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property in Madipakkam-1. It determines the amount of stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in the real estate market. This process is essential for both buyers and sellers to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Krishnaveniamman Nagar?

The current guideline value of Krishnaveniamman Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, which is a total increase of 64% over this period.

What is the land classification of Krishnaveniamman Nagar?

Krishnaveniamman Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Krishnaveniamman Nagar?

The Velacheri Sub Registrar Office covers Krishnaveniamman Nagar and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated in Krishnaveniamman Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 1,98,000 in fees.